Head and Shoulders Complete

Posted by downtowntrader | 5/11/2006 10:17:00 PM | 0 comments »

Looks like the Nasdaq completed the head and shoulders top with a clean break of the neckline on heavy volume. Here is an updated chart showing the Nasdaq breaking all the support lines. Looks like it will test the lower trendline, but I would expect that we get a deadcat bounce maybe as soon as tomorrow. I did end up taking both shorts posted earlier today.

No other charts tonight due to Poker Night :)

Good Luck,